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Key- Managerial Personnel of a Company
Companies Act, 2013 (Act) has introduced many new concepts and Key Managerial Personnel (KMP) is one of them. KMP covers the traditional roles of managing director and whole time director and also includes some functional heads like Chief Financial Officer and Chief Executive Officer and Company Secretary.
WHO ARE THE KEY MANAGERIAL PERSONNEL ?
The definition of the term Key Managerial Personnel is contained in Section 2(51) of the Companies Act, 2013. This Section states:
(i) the Chief Executive Officer
(ii) the Managing Director or the Manager;
(iii) the Company Secretary;
(iv) the Whole-time Director;
(v) the Chief Financial Officer; and
(vi) such other officer as may be prescribed;
Following Companies are required to appoint KMP
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